Stock markets weigh whether US is heading into recession        

Financial markets pricing in more than 75 basis points of cuts in US interest rates in 2023 after data showed US initial jobless claims reached the highest since October 2021 while producer prices rose by less than expected in April

The New York Stock Exchange: Investors are still worried about the US debt-ceiling and stability of the banking industry.

Stock markets were mixed as investors weighed concerns about whether the US was heading into a recession. 

Data showed US initial jobless claims reached the highest since October 2021 while producer prices rose by less than expected in April.